Shopify Inc. (NYSE:SHOP) Holdings Trimmed by Cornerstone Capital Inc.

Cornerstone Capital Inc. decreased its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 332,615 shares of the software maker's stock after selling 46,955 shares during the quarter. Shopify comprises about 3.7% of Cornerstone Capital Inc.'s investment portfolio, making the stock its 5th biggest holding. Cornerstone Capital Inc.'s holdings in Shopify were worth $35,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Allianz SE purchased a new position in Shopify in the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter valued at $39,000. Finally, Mather Group LLC. increased its holdings in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock worth $43,000 after buying an additional 184 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research analyst reports. CIBC lifted their price target on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Benchmark raised shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a research report on Monday, February 10th. Evercore ISI increased their price target on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Royal Bank of Canada cut their price objective on Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Phillip Securities downgraded Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.37.

Shopify Trading Up 5.0 %

NYSE:SHOP traded up $4.07 during midday trading on Tuesday, hitting $85.71. 8,591,808 shares of the company traded hands, compared to its average volume of 9,238,109. The firm has a market capitalization of $110.98 billion, a P/E ratio of 55.30, a P/E/G ratio of 4.82 and a beta of 2.82. The firm's fifty day moving average is $99.68 and its 200-day moving average is $101.78. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.